A Guide to NetSuite Modules

A Guide to NetSuite Modules

If you've reached this blog, you've probably heard of NetSuite, the comprehensive ERP solution designed to streamline your business operations. NetSuite is comprised of a series of modules that companies can pick and choose in order to create a system that fits perfectly to their needs. This blog will dive into the different modules, how to pick the right ones for your business, and top tips on how to get the most out of your system.

The Benefits of NetSuite's Modules

One of the main benefits of NetSuite's modular ERP system is its flexibility and scalability. A modular approach allows businesses to tailor the ERP system to their specific needs, choosing only the modules that are relevant to their operations. As a company grows or its needs change, additional modules can be seamlessly integrated, ensuring the ERP system evolves in tandem with the business. This level of adaptability not only makes the ERP solution a perfect fit at any stage of business growth but also ensures that companies don't have to invest in a completely new system as their requirements expand.

This also makes a modular ERP system the more cost efficient option. Companies can avoid the hefty upfront costs associated with implementing a comprehensive ERP system all at once, in terms of both license and implementation costs. This approach provides a more manageable financial entry point, particularly beneficial for small and medium-sized enterprises (SMEs) that may have limited budgets.

The focused implementation of modular systems also makes the system easier to use enabling quicker adoption by employees. Buy-in from your employees can make or break an ERP implementation, so it's important to make the transition as smooth as possible. The streamlined system reduces disruption to daily operations, and leads to a faster realisation of benefits.

The Complete NetSuite Modules List

Every customer that purchases NetSuite will be given the following core ERP functionality:

General Ledger
Accounts Receivable
Accounts Payable
Payment Methods – Credit Cards, ACH, EFT
Bank Management & Reconciliations
Multi-currency & Multi-language
Item Management
Basic Inventory Management
Basic Project Management
Order Management
Purchasing
Time & Expense Management

This is everything a company would need to manage their basic financials, and some companies don't require a lot more than this.

However, a lot of companies do require a more complex range of functionality, so NetSuite offers the following ad-on modules...

NetSuite Financial Management Modules

NetSuite Customer Relationship Management Modules

NetSuite Business Intelligence Module

NetSuite Analytics Warehouse

NetSuite Inventory and Order Management Modules

NetSuite E-Commerce Modules

NetSuite Human Resources Modules

Field Service Management Modules

NetSuite Field Service Management

NetSuite Professional Services Automation Modules

NetSuite Supply Chain Modules

Choosing The Right Modules For Your Business

It can be quite daunting to try and decide which modules you will need for your business. But don't worry, it's not as complicated as it may seem. The first thing you should do is conduct a full business process review. Document all current business processes across departments such as finance, sales, customer service, inventory management, etc. and identify areas where processes could be more efficient or where manual processes could benefit from automation. Then it would also be wise to speak to each of your departments and highlight any areas that they would like to improve.

Then have a look at NetSuite's industry packages. NetSuite offer packages that bundle together modules that specific industries typically need. This could be retail, e-commerce, healthcare etc. If your industry has a dedicated package then this will often tell you the modules that you will need. If your industry does not have a package, then use your list of processes from earlier and tick off all the functionality that is native to NetSuite, and then highlight any add-ons that you may need.

On the other hand, a quicker way of choosing the right modules for your business would be to go to a dedicated NetSuite partner like Threadgold Consulting. With over 10 years experience implementing NetSuite into hundreds of businesses, we have a plethora of experience at conducting business reviews and advising companies on the modules they will need. We are also committed to trying to find the most cost effective option, so we won't push you to implement any modules that are not be absolutely necessary for your business. Get in touch now for a free business process review!

Can I add/remove modules?

It is very easy to add modules into your system, just contact your implementation partner and they will set this up for you (with an extra fee for implementation). You can do this at any time of the year, and is often a quick and seamless process.

Removing modules is also simple, however you can only do this at the end of your licensing period. Sadly you cannot remove a module mid way through the year, so you will have to wait until your license renews.

How much do NetSuite modules cost?

The prices of NetSuite modules vary, starting from $999 up to $2999 per month. Your implementation partner will be able to advise you on pricing and your overall license cost. For more information on general NetSuite pricing, check out our comprehensive pricing guide!

Overall, NetSuite's modular approach is perfect for all businesses in all industries. It is flexible, scalable and cost effective, and your chosen implementation partner will help you guide you through your business process review and help you chose the right modules for your business.

By Karl Threadgold | April 9, 2024 | | 0 Comments

A Guide to NetSuite Modules